When You Retire You Expect to Live for Another 30

question 93

Multiple Choice

When you retire you expect to live for another 30 years.During those 30 years you want to be able to withdraw $45,000 at the BEGINNING of each year for living expenses.How much money do you have to have in your retirement account to make this happen.Assume that you can earn 8% on your investments.

• A) $1,350,000.00
• B) $506,600.25
• C) $547,128.27
• D) $723,745.49

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Definitions:

Wealthier

Having a greater amount of money, resources, or assets.

Poorer

Having less wealth, income, or material possessions compared to others or a previous state.

Long Marriage

A marital union that has lasted for a significant number of years, demonstrating durability and commitment between partners.

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